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Buncombe County staff propose clarifying and modernizing investment policy; changes headed to June 17 vote
Summary
Finance staff presented recommended edits to Buncombe County’s investment policy on June 3, including language clarifications, removal of certain portfolio percentage caps, updated collateral alignment with state guidance, and elimination of some performance-benchmark language. Staff will return a final draft for adoption at the June 17 meeting.
Melissa Moore, a county finance staff member, briefed the Buncombe County Board of Commissioners on recommended updates to the county’s investment policy at the June 3 meeting.
Moore said the policy was last adopted in 2020 and the recommended updates aim to modernize language (replacing repeated uses of “securities” with “investments”), define employee delegation where the policy referred to an “investment officer” (a role the county does…
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